I think the dynamic that the foils have created is interesting right now, with teams still learning how to best take advantage of these boats. The goal posts for skill development keep moving, and just there is an arms race with technology there’s an arms race with technique (for example, being able to tack without dropping back down to the water). That and the technology is just cool to see in action.
That being said, in the past when one boat in the America’s Cup is clearly designed better it does make for a less exciting competition.